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ANGI Homeservices (NASDAQ:ANGI) is making some big changes.
The owner of HomeAdvisor, Angie s List, and Handy named a new CEO Wednesday, tapping Oisin Hanrahan, who is replacing Brandon Ridenour. Hanrahan was the company s Chief Product Officer and previously the CEO and co-founder of Handy, prior to its acquisition in 2018.
Investors cheered the move, sending the stock up as much as 11% following the announcement. The transition comes after ANGI had been one of the few home-focused businesses unable to capitalize on the boom in home improvement spending during the pandemic as demand on its platform often went unmonetized due to a lack of supply from home-service providers.
Why ANGI Homeservices Stock Rose Today
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Handy co-founder Oisin Hanrahan is taking over as CEO of ANGI Homeservices – TechCrunch
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Executive Vice President and Chief Financial Officer
Good morning, everyone. Glenn Schiffman here, and welcome to the IAC and ANGI Homeservices Fourth Quarter Earnings Call. Joining me today is Joey Levin, CEO of IAC and Chairman of ANGI Homeservices; also Brandon Ridenour, CEO of ANGI Homeservices; and Anjali Sud, CEO of Vimeo, who will be joining the call. Welcome, Anjali. Similar to last quarter, supplemental to our quarterly earnings releases, IAC has also published its quarterly shareholder letter. We will not be reading the shareholder letter on this call. It is currently available on the Investor Relations section of IAC s website. I will shortly turn the call over to Joey to make a few brief introductory remarks, and then we ll open it up to Q&A. Before we get to that, I d like to remind you that during this call, we may discuss our outlook and our future performance.
Executive Vice President and Chief Financial Officer
Good morning, everyone. Glenn Schiffman here, and welcome to the IAC and ANGI Homeservices Fourth Quarter Earnings Call. Joining me today is Joey Levin, CEO of IAC and Chairman of ANGI Homeservices; also Brandon Ridenour, CEO of ANGI Homeservices; and Anjali Sud, CEO of Vimeo, who will be joining the call. Welcome, Anjali. Similar to last quarter, supplemental to our quarterly earnings releases, IAC has also published its quarterly shareholder letter. We will not be reading the shareholder letter on this call. It is currently available on the Investor Relations section of IAC s website. I will shortly turn the call over to Joey to make a few brief introductory remarks, and then we ll open it up to Q&A.